Become financially ‘lucky’

Is luck something you can catch or is it something you can cultivate? And what about when it comes to your finances? Can you make yourself financially ‘lucky’?

Luck. It seems a silly idea to take seriously. When it comes to our finances, can we really boost our financial ‘luck’? According to psychology professor Richard Wiseman, we can indeed court luck to help it improve our lives. But how, I hear you cry, can this possibly help my wallet?

1. Lucky people attempt to achieve their goals, even if they may seem initially intimidating

Some might say even coming up with financial goals can be overwhelming. But lucky people, based on Wiseman’s research, seem to look at goals in different way. They will strive to achieve the goal even though it might be tough and they persevere in the face of failure. As opposed to ‘unlucky’ individuals who seem to give up quickly before they’ve had a chance to achieve anything.

“The current average pension pot for consumers who have been advised on their retirement planning is more than £74,500, nearly double that of those not seeking advice”

2. Lucky people are realistic

Thinking life will all work out well in the end, may help you sleep better at night, but it won’t help you become any luckier. Financial planning is crucial. Realising you may how much money you need to save your pension means you’ll have to forgo those extra treats in your shopping trolley or a fancy coffee every morning. A richer future you won’t happen magically all by itself. For example, the current average pension pot for consumers who have been advised on their retirement planning is more than £74,500, nearly double that of those not seeking financial advice.

3. Lucky people take constructive steps to prevent bad luck in the future

Hiding your head in the sand may be desirable when your credit card bill falls on the mat, but it will only add to your misery. One of the core components of why lucky people are ‘lucky’ is their ability to learn from their mistakes, the willingness to seek out practical, professional advice and then take action. After all, knowledge is power and advice is knowledge.

4. Lucky people don’t panic

This ability to take the longer term view benefits lucky individuals who are trying to build their finances. They don’t panic when day to day fluctuations occur because they’ve taken a route that’s been carefully planned out, with some fire escapes for when things get hairy. They realise that building their financial security isn’t achieved with a quick fix and you need to plan.

‘Lucky’ people appreciate that luck doesn’t happen by accident. They take a considered approach with practical ways to either solve their problems or build their wealth. So, next time you moan about how well off your friend/colleague/neighbour is, remember: they haven’t got lucky by accident.

>>>Take your first practical steps to a ‘luckier’ future by seeking a professional adviser to tackle your legal, mortgage or financial needs.